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Investment in Qualified Affordable Housing
 9 Months Ended
Sep. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Investment in Qualified Affordable Housing Investment in Qualified Affordable Housing
Park makes certain equity investments in various limited partnerships that sponsor affordable housing projects. The purposes of these investments are to achieve a satisfactory return on capital, help create affordable housing opportunities, and assist the Company to achieve its goals associated with the Community Reinvestment Act.

The table below details the balances of Park’s affordable housing tax credit investments and related unfunded commitments at September 30, 2020 and December 31, 2019.
(in thousands)September 30, 2020December 31, 2019
Affordable housing tax credit investments$57,583 $53,070 
Unfunded commitments31,593 25,894 

Commitments are funded when capital calls are made by the general partner. Park expects that the current commitments will be funded between 2020 and 2030.
Park recognized amortization expense of $1.8 million for each of the three months ended September 30, 2020 and 2019, and $5.5 million and $5.4 million for the nine months ended September 30, 2020 and 2019, respectively, which was included within the provision for income taxes. Additionally, during the three months ended September 30, 2020 and 2019, Park recognized tax credits and other benefits from its affordable housing tax credit investments of $2.3 million and $2.6 million, respectively, and during each of the nine months ended September 30, 2020 and 2019, recognized $6.9 million, which was included within the provision for income taxes.